KPP Advisory Services LLC Sells 2,667 Shares of U.S. Bancorp (NYSE:USB)

KPP Advisory Services LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 5.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 43,919 shares of the financial services provider’s stock after selling 2,667 shares during the period. KPP Advisory Services LLC’s holdings in U.S. Bancorp were worth $1,744,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the second quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp in the 1st quarter worth approximately $30,000. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $31,000. Eagle Bay Advisors LLC raised its holdings in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at approximately $30,000. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on USB shares. The Goldman Sachs Group dropped their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. DA Davidson raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $54.00 to $57.00 in a research note on Monday. Citigroup increased their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.34.

Insider Activity

In related news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $45.73 on Tuesday. The company has a market cap of $71.36 billion, a P/E ratio of 15.14, a PEG ratio of 3.06 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock’s 50-day moving average is $44.54 and its 200 day moving average is $42.40. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. Research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.37%. U.S. Bancorp’s payout ratio is presently 66.23%.

U.S. Bancorp announced that its board has approved a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.